GANGESHWAR LTD Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE petitioner seeks reference of the following questions to this Court :

(2.) COUNSEL for the petitioner is unable to bring to our notice any paper on the record showing that the Tribunal was made aware of the allegation that the books of account were closed on October 31 each year. There is no such mention in the assessment order nor in the order of penalty nor in the reply to the showcause notice or in the appellate order. Even in the order of the Tribunal, there is no indication that the books of account had been closed on October 31. The only explanation given by the assessee in its letter of May 24, 1984, in response to the showcause notice as to why penalty should not be levied, was that some expenses or income could not be anticipated and there were circumstances beyond the control of the assessee which prevented it from giving the correct figures. It was not mentioned therein that the accounts had to be prepared as on June 30, 1977, from the books of account which were closed on October 31, 1977. This explanation was not put forth before the tax authorities. Secondly, in the documents which were filed before the Tribunal giving the explanation with regard to the underestimation of the income, it is only a figure of Rs. 7,76,000 has been mentioned. It is mentioned that this income could not be anticipated.

(3.) THE conclusion of the Tribunal is a pure question of fact and we do not see any question of law. Dismissed.